As of May 01, 2026, the average hourly rate for a Cost Engineer III in the United States is $52, which translates to an annual salary of about $108,619.
However, the hourly wage can vary significantly based on several factors. Here’s a detailed look at the typical pay range per hour:
Compensation Planning
Develop a Job Description
Pay Equity
2025 Compensation Trend
Smart Recruiting
AI-Powered Talent
A Cost Engineer III's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Cost Engineer III's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Cost Engineer I | 0-2 years | $70,706 |
| Cost Engineer II | 2-4 years | $86,394 |
| Cost Engineer III | 4-7 years | $108,619 |
| Cost Engineer IV | 7+ years | $131,818 |
| Cost Engineer V | 7-10 years | $155,328 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Cost Engineer IIIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 8.58% |
| Construction Accounting | 2.97% |
| KPI | 1.98% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
ERP Systems
|
$124,912 |
15%
|
|
Prototyping
|
$122,739 |
13%
|
|
Program Management
|
$121,653 |
12%
|
|
Risk Management
|
$120,567 |
11%
|
|
KPI
|
$120,567 |
11%
|
|
Collaboration
|
$119,481 |
10%
|
Your level of education can impact your salary potential. While many Cost Engineer IIIs enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Cost Engineer III with a Bachelor's Degree is between $101,104 and $108,058).
Cost Engineer III Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 2.8% |
| High School | 8.3% |
| Associates | 5.6% |
| Bachelors | 58.3% |
| Masters | 25.0% |
| Doctorate | 0.0% |
Understanding how a Cost Engineer III's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on May 01, 2026Salaries for a Cost Engineer III can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $102,736 in 2023 to around $101,849 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Cost Engineer III salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $102,736 |
| 2024 | $102,515 |
| 2025 | $101,849 |
| 2026 |
View More
|
| 2027 |
View More
|
If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution.
Compensation PlanningHere are companies hiring for Cost Engineer III and their salaries, click below for more details.
Ready to take the next step in your career? Browse thousands of current Cost Engineer III job openings on our job board. Use the search bar below to find your perfect match.
Get a Salary Increase
Analyze the market and your qualifications to negotiate your salary with confidence.
Search Job Openings
Search thousands of open positions to find your next opportunity.
Adjust Employee Salary
Individualize employee pay based on unique job requirements and personal qualifications.
Price My Industry Jobs
Get the latest market price for benchmark jobs and jobs in your industry.
Develops and implements cost control procedures, documents, and tools to support and enhance project budget management. Collects and coordinates procurement and other cost information used to develop cost forecasting, cost control strategies, and project risk analysis. Performs data analysis to identify project trends and budget deviations and highlight cost underruns and overruns. Has extensive technical knowledge of processes and materials specific to the type of project. Experienced with the cost-estimating methods best suited to the nature of the project. Requires a bachelor's degree. Typically reports to a supervisor or manager. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. Typically requires 4-7 years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Construction Accounting: A form of project accounting applied to construction projects. Construction accounting is a vitally necessary form of accounting, especially when multiple contracts come into play.
KPI: KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Salary.com's CompAnalyst platform offers:
